Sony Corporation $SONY Shares Sold by Renaissance Group LLC

Renaissance Group LLC cut its holdings in Sony Corporation (NYSE:SONYFree Report) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,623 shares of the company’s stock after selling 25,466 shares during the quarter. Renaissance Group LLC’s holdings in Sony were worth $6,826,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. West Family Investments Inc. grew its position in shares of Sony by 1.1% in the third quarter. West Family Investments Inc. now owns 34,228 shares of the company’s stock valued at $985,000 after purchasing an additional 385 shares during the last quarter. Baker Tilly Wealth Management LLC grew its position in shares of Sony by 3.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock valued at $298,000 after purchasing an additional 409 shares during the last quarter. Glenmede Investment Management LP grew its position in shares of Sony by 1.0% in the third quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after purchasing an additional 416 shares during the last quarter. Mitchell & Pahl Private Wealth LLC grew its position in shares of Sony by 1.1% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after purchasing an additional 433 shares during the last quarter. Finally, Binnacle Investments Inc grew its position in shares of Sony by 81.7% in the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after purchasing an additional 464 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony Stock Performance

Shares of SONY opened at $20.78 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The company has a market capitalization of $123.60 billion, a price-to-earnings ratio of -103.87, a PEG ratio of 1.70 and a beta of 0.93. Sony Corporation has a 1 year low of $19.63 and a 1 year high of $30.34. The company’s 50 day simple moving average is $21.40 and its 200 day simple moving average is $23.07.

Sony (NYSE:SONYGet Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The company had revenue of $19.15 billion for the quarter, compared to analysts’ expectations of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $32.86 EPS. On average, sell-side analysts predict that Sony Corporation will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SONY. Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Sanford C. Bernstein reissued a “market perform” rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

Check Out Our Latest Report on SONY

Insider Buying and Selling

In other Sony news, Director Kenichiro Yoshida sold 400,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the transaction, the director owned 661,615 shares of the company’s stock, valued at $14,959,115.15. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tsuyoshi Kodera sold 17,500 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $395,675.00. Following the transaction, the insider directly owned 27,553 shares in the company, valued at approximately $622,973.33. This represents a 38.84% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 7.00% of the company’s stock.

Key Headlines Impacting Sony

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About Sony

(Free Report)

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.

See Also

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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